Welcome to My NC Retirement for government employees, employers, and retirees! Here you'll find resources and tools to help you determine what actions to take to address your short-term and long-term financial and retirement planning needs.
Coming Soon: ORBIT Redesign!
The NC Department of State Treasurer is planning to launch its redesigned ORBIT site soon. ORBIT provides members secure access to their personal retirement account information 24 hours a day, seven days a week.
The new site will have a “responsive” design – meaning it will be easier to access from mobile devices, such as cell phones. The site will also have enhanced security features, to help make members’ personal information more secure. Lastly, the new design will incorporate NC Total Retirement branding to maintain a consistent “look and feel” across RSD websites. We will let you know when the improved ORBIT site is available, and we hope you will enjoy using it.
A New Year. A New Approach to Retirement Planning.
The North Carolina Total Retirement Plans are officially here to offer you the oversight and protection of the traditional, well-managed and highly trusted North Carolina Retirement System, with the benefits of access to additional low-fee products, retirement-related resources and great customer service.
It's more than a new logo and a new look. It’s a symbol for the next decade and beyond!
Click here to learn more about the North Carolina Total Retirement Plans.
NIRS Releases Pension Economic Impact Study
The National Institute on Retirement Security (NIRS) has released a study outlining the economic impact of defined benefit pensions. "Pensionomics 2016 - Measuring the Economic Impact of DB Pension Expenditures," was released in September 2016, and shows how pensions not only provide a source of income for retired public employees, but also contribute to local, state and national economies. The links below are to the full study, the North Carolina part of the study, and infographics showing how pension spending affects the economy.
Penalty Tax Exemption for Public Safety Employees
The North Carolina Retirement Systems Division wants to make you aware of a recent change to federal law as it relates to public safety employees. On June 29, 2015, President Obama signed into law the “Defending Public Safety Employees’ Retirement Act.” This new law expands the exemption which up until now only apply to pension assets. With this change in the law North Carolina Public Safety workers are exempt from the 10% penalty tax on early distributions from 401(k) plans. This means that public safety employees, as defined by the IRS, are no longer subject to the 10% penalty upon separation of service at or after age 50, effective January 1, 2016.
This legislation primarily affects those employees who are considering retiring prior to Jan. 1, 2016 and have assets in the NC 401(k) Plan. This is important information for participants to consider because the law does not take effect until January 1, 2016. Anyone who retires and withdraws funds before the implementation of the law may still be subject to the penalty. Because of the considerable tax implications regarding the withdrawal of 401(k) funds participants have saved for retirement, the participant should consult a tax advisor. The Department of State Treasurer does not give tax advice.
Internal Revenue Code Section 415(b)
Internal Revenue Code section 415(b) is a federal provision that limits the amount of annual retirement benefits that an individual can receive from a pension plan. Beginning in August 2016, retiring TSERS and LGERS members may be affected by these limits. The NC Retirement Systems has created a fact sheet
to help members understand IRC section 415(b) and make informed decisions about their retirement.
Requesting Appointments with the Retirement Systems
- One-on-one appointments are generally reserved for members who are within one year of their retirement date. You will need to bring with you a Custom Benefit Estimate. This estimate can be generated by signing into ORBIT and clicking on "Create Custom Benefit Estimate." If you need an appointment, one-on-one appointments with a retirement counselor are currently booking 3-4 months out. Please plan accordingly.
- If you have questions about your benefits estimate, or any other questions that can be answered over the phone, please feel free to contact us at 1-877-627-3287. Our knowledgeable telephone counselors can provide you with most of the same information that you would receive with an appointment, and it saves you time and travel!
- If you are applying for Retirement Benefits, please contact your employer to begin this process.
- Review the Retirement Readiness Checklist to prepare for your appointment.[NEW]